Rental Income Tax Rates 2022-23

GROSS AMOUNT OF RENT	TAX RATES (ATL)	TAX RATES (NON-ATL)
Where the gross amount of rent does not exceed Rs. 300,000/-	Nil	Nil
Where the gross amount of rent exceeds Rs. 300,000/- but does not exceed Rs. 600,000/-	5% of the Gross Amount exceeding Rs. 300,000.	100% Increase
Where the gross amount of rent exceeds Rs. 600,000/- but does not exceed Rs. 2,000,000/-	Rs. 15,000 + 10% of the Gross Amount exceeding Rs.600,000.	100% Increase
Where the gross amount of rent exceed Rs. 2,000,000/-	Rs. 155,000 + 25% of the Gross Amount exceeding Rs.2,000,000.	100% Increase

Rental Income Tax Rates 2022-23 are valid from 01-07-2022 till 30-06-2023

What is Income from the Property?

The rent received or receivable by a person for a tax year, other than rent exempt from tax under this Ordinance, shall be chargeable to tax in that year under the head “Income from Property”.

What is Rent or What is Rental Income?

It means any amount received or receivable by the owner of land or a building as consideration for the use or occupation of, or the right to use or occupy, the land or building, and includes any forfeited deposit paid under a contract for the sale of land or a building.

What is ATL?

ATL stands for Active Tax Payer List. The Active Taxpayer List (ATL) is a central record of online Income Tax Return filers for the previous Tax Year.

Read More: Income Tax Rates 2022-23 (Salaried Person)